The ascendency of India as an economic world power

Indians are contributing a lot behind the success of US tech companies. On the one hand, US tech companies are outsourcing their works to India and this is helping them to stay profitable. On the other hand, Indian workers and entrepreneurs are helping US companies directly to shine.

Until now, no substantial research has been undertaken to evaluate and recognize the Indian contribution to the US tech sector.

New America Media reported:

A new study had found that more than a quarter of the engineering and technology companies launched in the U.S. from 1995-2005 had at least one foreign-born founder and Indians founded more immigrant-founded firms - 26 percent - than newcomers from China, Taiwan, the U.K. and Japan combined.

Immigrants were the founders or key executives of 52 percent of tech and engineering companies started in Silicon Valley in the decade, and nationwide immigrant-founded firms produced $52 billion in sales and employed 450,000 workers in 2005.

Not only are immigrants prominent among start-ups in Silicon Valley, but they have also become venture capital magnets in other areas of the country.

In California, New Jersey and Michigan, immigrants founded or led 39 percent, 37.6 percent and 32.8 percent, respectively, of the technology and engineering start-ups in the 10-year period.

In New Jersey, 47 percent of the foreign-born founders or key executives born in India, with Israel and Korea tied in second place as the places of origin with 7 percent each.

So, you can see that Indians are way ahead compared to the skilled workers of other countries. However, many American people have a negative attitude towards India, outsourcing and Indians working in the US tech companies. It is perhaps time that they should change their attitude and recognize the Indian contribution.

Do you agree with me?